FTSE 100 Edges Lower On Uncertainty Over China's COVID Situation
(RTTNews) - U.K. stocks drifted lower on Thursday as commodity-related stocks declined on uncertainty about the COVID situation in China and mounting worries about a recession in the U.S.
Amid a rise in the number of new COVID-19 cases, Chinese hospitals and funeral homes are currently under intense pressure.
The benchmark FTSE 100 was down 30 points, or 0.4 percent, at 7,466 after rising 0.3 percent on Wednesday.
Miners Anglo American, Antofagasta and Glencore fell between half a percent and 1 percent, tracking weakness in commodity prices.
Oil & gas firm BP Plc fell over 1 percent and Shell gave up 0.8 percent.
Iron ore pellets manufacturer Ferrexpo declined 1.2 percent. The company said that the detention of its non-executive director Kostyantin Zhevago by the French authorities was unrelated to matters at the company.
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